The million dollar question contingency or retained?
Hopefully, you have a better understanding now of what constitutes contingency recruiting and retained recruiting. So the ultimate question is – Which one is best to fill your open position?
To keep it really simple, at least based off of salary here is a general rule to follow. For lower paid jobs contingency is your way to go. On the other side of the spectrum, the highest paid jobs, a retained recruiter will deliver much better results.
The reason it breaks down in this way is simply because of supply and demand. Contingency recruitment performs much better in a crowded labor market, whereas a retained approach would be excess. Now try using contingency at the high salary, and top end of the market, where qualified candidates are far and few between. This is where you will start to run into problems… especially if you are offering the role to multiple firms.
Knowledge of industry plays a huge role in picking a quality firm as well. With specialist recruiters popping up in many shapes and sizes, just because one company offers you a good price doesn’t mean they are the best position for the job.
Ok, so recruiting for the low end of the market and the top of the market makes sense. Now, what about the middle of the market? This is where choosing your recruiting method gets a little grey. While some roles are at this level can be easy to fill, others are not. Many roles, especially in the Cannabis sector, tend to require candidates with specialist experience.
Essentially you have a few options as the employer. You can keep trying the standard contingency approach. You’ll be able to fill the role quicker, although not necessarily with the perfect candidate. Or you could go for a retained search, it may take a little longer, and is potentially a little more expensive. The candidate though will be a much better fit!
All in all, we here at Vangst Talent would be happy to have a conversation regarding your open roles and provide feedback on which method would make the most sense for your role.